Australia-based coal development company Carabella Resources Limited (Carabella) has announced that it has raised approximately A$24 million through placement of 18,498,343 shares at an issue price of A$1.30 per share.
The proceeds gained from the placement will be used to fund Carabella's development program at Grosvenor West and its broader exploration program at Mabbin Creek.
The company also stated that the share placement has attracted great interest from institutional investors in the US, Europe, Asia and Australia.
Carabella raises funds through share placement
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